express trust (Meaning)
express trust (n)
a trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation)
Synonyms & Antonyms of express trust
No Synonyms and anytonyms found
express trust Sentence Examples
- The trust deed expresses the trust's purpose, the trustee's duties towards the trust, the beneficiaries' rights, and the settlor's rights pertaining to the trust.
- The use of express trusts is common in estate planning to transfer assets to beneficiaries in a legally binding manner.
- The express trust is created by a settlor's intentional act of placing property in trust for the benefit of a beneficiary.
- An express trust requires a declaration or manifestation of an intent to create a trust, the identification of the trust property, beneficiaries, and trustees, and the specification of the terms of the trust.
- Express trusts require a written declaration of trust, but in some jurisdictions, an oral trust may be valid in certain circumstances.
- In an express trust, the trustee has a legal duty to manage and invest the trust property for the benefit of the beneficiaries.
- If there is sufficient evidence of the settlor's intent to create a trust, a court may impose an express trust over property even in the absence of a formal written trust agreement.
- The terms of an express trust can be modified or amended by the settlor, provided that the amendment is not inconsistent with the original purpose of the trust.
- In certain jurisdictions, the settlor of an express trust may reserve certain powers over the trust property, such as the power to revoke the trust, change the beneficiaries, or direct investments.
- An express trust can serve various purposes, including asset protection, tax planning, estate planning, and charitable giving.
FAQs About the word express trust
a trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation)
No synonyms found.
No antonyms found.
The trust deed expresses the trust's purpose, the trustee's duties towards the trust, the beneficiaries' rights, and the settlor's rights pertaining to the trust.
The use of express trusts is common in estate planning to transfer assets to beneficiaries in a legally binding manner.
The express trust is created by a settlor's intentional act of placing property in trust for the benefit of a beneficiary.
An express trust requires a declaration or manifestation of an intent to create a trust, the identification of the trust property, beneficiaries, and trustees, and the specification of the terms of the trust.
